Nepal Credit and Commerce Bank Limited’s (NCCB) 79.10 lakh unit right shares will be sold via auction from today. The bids for 79,10,993 unit shares will be accepted till Poush 20, 2075.

The commercial bank has urged the interested bidders to place applications for minimum 1000 units of promoter shares and 100 units of ordinary shares. The minimum bid price has been set as Rs 100 so the bids should be placed above Rs 100.

The bank is selling 65,16,795 units promoter shares and 13,94,198 units ordinary shares. For the promoter shares, the existing promoters of the company will be given priority while issuing the shares.

Sunrise Capital Limited has been appointed as the issue manager for the auction of the shares. The application form can be collected and deposited in Sunrise Capital and designated branches of Nepal Credit and Commerce Bank.

The bidders should deposit the entire bid amount in the A/C no 0030000017615 of NCC Bank or A/C no 0690371114401009 of Sunrise Bank in the name of Sunrise Capital Limited.

Currently, the paid up capital of the bank is Rs 4.67 arba. After the adjustment of the right shares, the paid-up capital of the bank will rise to Rs 7.01 arba. The bank will likely distribute bonus shares for the remaining Rs 99 crore to meet the minimum capital requirement of Rs 8 arba.(source)